Financing The Purchase Of Property Overseas

“Cheers, Kathleen. Thanks to you and Lief for your good counsel these many years.

“Just a note on your recent letter noting possible mortgages available to non-citizens in Europe. Most countries will restrict the term of the loan based on the age of the borrower (as well as require a life insurance policy amount equal to the mortgage). This will be a consideration for your boomer and retiree readers. In 2005 (age 55), I was able to finance three rental houses in New Zealand based solely on their value, but LTVs were only 60% to 70%, with variable rates and 25-year terms. Loan offerings may have changed since.

“Best wishes and continued success!”

–Bob S., United States

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“Kathleen, I agree with Colombia’s system. In fact I would remind all my fellow readers that in many countries there are no mortgages. If you want to purchase property, you pay for it. It was our system of allowing too much of the value to be mortgaged that was partly responsible for the subsequent mess in the real estate market.”

–Zoe W., United States

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